US Durable Goods Orders Disappoint

New orders for US-manufactured durable goods were flat month-over-month in January 2026, following a downwardly revised 0.9% decrease in December and compared to market forecasts of a 1.2% rise. Higher orders for primary metals (0.8%); computers and electronic products (0.8%) and fabricated metals products (0.6%) were offset by declines for capital goods (-1.1%); transportation equipment (-0.9%) and electrical equipment, appliances, and components (-0.6%). Excluding transportation, new orders went up by 0.4%, after an upwardly revised 1.3% increase in December; while excluding defense, they increased by 0.5%, after a revised 1.9% decline previously. Meanwhile, orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, were flat, following an upwardly revised 0.8% increase in the month before.

New orders for US-manufactured durable goods decreased by 1.4% mom in December 2025, following an upwardly revised 5.4% jump in November, delayed data showed. The drop was milder than the 2% decline expected by analysts and was largely driven by a 5.3% fall in transportation equipment, notably a 25.9% slump in nondefense aircraft and parts. Orders also declined significantly for capital goods (-3.9%), but picked up for defense aircraft and parts (9.5% vs 3.2%) and computers and electronic products (3% vs 0.7%). Excluding transportation, new orders increased by 0.9%, after a downwardly revised 0.4% rise in November and above the expected 0.3% gain; while excluding defense, they slipped by 2.5% following a 6.6% jump the prior month. Meanwhile, orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, rose by 0.6%, following an upwardly revised 0.7% increase in the month before. In 2025, new orders increased by 7.8% over a year ago.

New orders for US-manufactured durable goods jumped 5.3% month over month in November 2025, rebounding from a revised 2.1% decline in October and beating market expectations for a 3.7% increase. The gain was driven by a sharp rebound in transportation equipment orders, which surged 14.7% after a 6.3% fall in October, led by a 97.6% spike in civilian aircraft bookings. Elsewhere, orders also rose for electrical equipment, appliances and components (1.7% vs. -0.5%), fabricated metal products (1.0% vs. 0.8%), machinery (0.5% vs. 0.6%), and computers and electronic products (0.2%, unchanged). Excluding transportation, new orders increased 0.5% after a 0.1% gain in October, while orders excluding defense surged 6.6%, reversing a 1.3% decline in the previous month. Meanwhile, orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, rose by 0.7%, after a 0.3% gain the previous month.